Expert: Phil Nicols - 4/1/2008

Question
I am a new commercial agent, under 2 years experience. I am doing well and have a few deals under my belt, my current opportunity is at a much larger level than I have previously done.I have a client who wants me to pursue a deal in which my client wold be offering to buy a hotel property in the 200-million+ range. What is the standard fee, the largest deal I was involved in to date was 30 million w/ a 1% referral, is this the norm? Should my buyer pay or the seller? Thanks for you help!

Answer
Lee

if you have done a 30 million dollar deal in your first 2 years of real estate, you don't need my help.

- there is no standard commission. Even the word "standard" can be construed as "price fixing" which, as you know, is illegal.

good luck

best, Phil